Commerce Bank Reduces Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Commerce Bank lowered its stake in shares of Kontoor Brands, Inc. (NYSE:KTBFree Report) by 65.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,840 shares of the company’s stock after selling 11,167 shares during the quarter. Commerce Bank’s holdings in Kontoor Brands were worth $365,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. McGlone Suttner Wealth Management Inc. acquired a new stake in Kontoor Brands during the 4th quarter worth $25,000. Principal Securities Inc. acquired a new stake in shares of Kontoor Brands during the fourth quarter worth about $32,000. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Kontoor Brands by 5,710.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 581 shares of the company’s stock valued at $26,000 after purchasing an additional 571 shares during the last quarter. Oakworth Capital Inc. boosted its position in shares of Kontoor Brands by 157.8% in the 4th quarter. Oakworth Capital Inc. now owns 781 shares of the company’s stock valued at $49,000 after purchasing an additional 478 shares during the period. Finally, Headlands Technologies LLC purchased a new position in Kontoor Brands during the 4th quarter worth approximately $81,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Kontoor Brands Price Performance

Shares of NYSE KTB opened at $73.37 on Friday. The stock has a fifty day moving average price of $63.26 and a 200 day moving average price of $60.33. Kontoor Brands, Inc. has a 1-year low of $37.10 and a 1-year high of $73.79. The company has a debt-to-equity ratio of 1.96, a current ratio of 2.70 and a quick ratio of 1.42. The company has a market cap of $4.10 billion, a PE ratio of 18.57, a P/E/G ratio of 1.91 and a beta of 1.11.

Kontoor Brands (NYSE:KTBGet Free Report) last released its earnings results on Thursday, May 2nd. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.90 by $0.26. The company had revenue of $631.20 million during the quarter, compared to analysts’ expectations of $607.91 million. Kontoor Brands had a net margin of 8.72% and a return on equity of 71.45%. During the same quarter last year, the business earned $1.16 EPS. The business’s revenue was down 5.4% on a year-over-year basis. Sell-side analysts forecast that Kontoor Brands, Inc. will post 4.73 EPS for the current year.

Kontoor Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Monday, June 10th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Monday, June 10th. Kontoor Brands’s dividend payout ratio is presently 50.63%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on KTB shares. UBS Group raised their target price on shares of Kontoor Brands from $83.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Barclays raised their price objective on shares of Kontoor Brands from $65.00 to $76.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Finally, The Goldman Sachs Group upped their target price on shares of Kontoor Brands from $68.00 to $77.00 and gave the company a “buy” rating in a report on Friday, May 3rd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $75.20.

View Our Latest Stock Analysis on KTB

Insiders Place Their Bets

In other news, CEO Scott H. Baxter sold 29,212 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $71.52, for a total value of $2,089,242.24. Following the completion of the sale, the chief executive officer now directly owns 318,188 shares of the company’s stock, valued at approximately $22,756,805.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is currently owned by insiders.

About Kontoor Brands

(Free Report)

Kontoor Brands, Inc, a lifestyle apparel company, designs, produces, procures, markets, distributes, and licenses denim, apparel, footwear, and accessories, primarily under the Wrangler and Lee brands. The company operates through two segments: Wrangler and Lee. It licenses and sells apparel under the Rock & Republic brand name.

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Institutional Ownership by Quarter for Kontoor Brands (NYSE:KTB)

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